Menara JCorp

Menara JCorp (previously known as Wisma TIME) was built in 1993 and owned by property investment holding company STLR, a wholly-owned unit of Khazanah National. Previously the headquarters for Time dotCom Berhad, the building is located along the same row as Menara AA and Wisma Technip. Menara JCorp is a 12-storey building with a mezzanine and 2 basement carparks. The building was put up for sale in March 2010 with an indicative value of RM80 million. Shortly after, In May 2010, Johor Land Bhd, a Johor Corp company bought this building for RM78 million. The price is inclusive of renovations which is currently underway. The building has net floor area of 171,611sf and before 2010 was only less than 70% occupied. A typical floor plate size for this building is approximately 14,000sf. The building is currently 90% occupied and known as Menara JCorp (after Johor Corporation). Some of the building's tenants include Secret Recipe, travel companies and others.

Property Details

Name: Menara JCorp (previously known as Wisma TIME)

Address: 249, Jalan Tun Razak, 50400 Kuala Lumpur

Completion Date: 1995

Type: Office Tower

Tenure: Freehold

No. of Storey: 12

Net Floor Area: 171,611 sf

Rental:

Facilities

Centralized air-conditioning

122 basement parking lots

24 hrs security

CCTV monitoring

Restaurants

Broadband

Telco providers like Telekom, Time & Maxis

Analysis

Menara JCorp is situated along the busy thoroughfare of Jalan Tun Razak. Just across from the building is RHB Capital Berhad and along with other highrises like Menara AA next door, and The Forum, it is another popular landmark in the KL City Centre area. Lettable areas here were previously rented out for RM3.50 psf onwards. Upon completion of the renovation works, the value is certainly to increase. Neighboring Menara AA is letted out between RM4.00 - RM5.00 psf. Similar facilities and amenities are made available. Menara JCorp boasts excellent frontage and public awareness and is just at the entry to the Smart Highway which will link commuters to Jalan Chan Sow Lin area, and also Lebuhraya Kuala Lumpur - Putrajaya. Public transportation is aplenty and the location is close by to the Hentian Bas Pasar Rakyat. There are petrol stations nearby, Prince Court Medical Centre, foreign embassies further up the road and the nearest shopping malls are at the Lot 10 area. A large food court area is also located near Pasar Rakyat along with other notable restaurants and establishments.